Managepay Systems Ventures into Indonesian Financial Technologies in Collaboration with PT Finnet Indonesia and Eddid Financial Holdings Ltd

Managepay Systems Bhd is actively exploring opportunities for collaboration with PT Finnet Indonesia and Eddid Financial Holdings Ltd. in Indonesia’s capital markets and financial technologies sector. This collaboration aims to introduce innovative financial solutions, including a financial social network application and cross-border remittance services, enhancing the financial landscape in Indonesia.

29 August 2023 – Managepay Systems Bhd, a prominent player in the financial technology sector, is actively pursuing a collaborative venture with PT Finnet Indonesia and Eddid Financial Holdings Ltd. This collaboration seeks to tap into Indonesia’s capital markets and financial technologies landscape. The parties are also poised to establish a joint venture in Indonesia, and the details of this venture are currently under deliberation.

In accordance with the memorandum of understanding, Hong Kong-based Eddid Financial Holdings Ltd. is set to introduce ViV, a novel financial social network application, to the Indonesian market. This will be achieved through a strategic integration of ViV with Finnet’s flagship e-payment application, known as Finpay.

Moreover, Finnet is slated to possess the exclusive right to offer cross-border remittance services to Indonesian clients of Eddid Financial Holdings Ltd. or its licensed entity. This offering will be accessible to clients who choose to open securities trading accounts with Eddid ONE, the company’s flagship multi-asset trading application.

In a reciprocal partnership arrangement, Finnet will appoint MPay as the agent responsible for payout facilitation for outbound remittances from Indonesia to Eddid Financial Holdings Ltd., as well as for inbound remittances from Eddid to Indonesia.

This collaborative endeavor underscores Managepay Systems Bhd’s commitment to expanding its presence in the Indonesian financial technologies domain, while leveraging strategic partnerships to drive innovative financial solutions. – reference: The Star

Author: Terry KS

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